2024-02-09 22:37:00
The banks’ liquidity requirement stood at 109.8 billion dirhams (billion dirhams) on a weekly average in January 2024, compared to 107.1 billion dirhams a month earlier, according to Bank Al-Maghrib (BAM).
In this context, BAM increased the overall volume of its injections to 121.8 billion dirhams, including 49.4 billion dirhams in the form of 7-day advances, 45.2 billion through repo operations delivered at 1 and 3 months and 27 .2 billion dirhams in the context of long-term guaranteed loans, indicates BAM in its Monthly Review of the economic, monetary and financial situation.
On the interbank market, the average daily trading volume returned to MAD 3.1 billion and the weighted average rate stood at 3% on average, adds the same source. In terms of the Treasury bill market, rates fell in January on both the primary and secondary markets, particularly for medium and long maturities. As for deposit rates, in December they recorded increases of 23 basis points (bps) to 2.6% for 6-month deposits and 40 bps to 3.05% for one-year deposits.
Concerning lending rates, the results of the BAM survey of banks relating to the fourth quarter of 2023 indicate stability in the overall average rate at 5.36%.
By institutional sector, the rates on business loans fell by 2 bps to 5.30%, with declines of 17 bps to 4.90% for equipment loans and of 22 bps to 5.49% for those for real estate development, and an increase of 4 bps to 5.35% for cash flow facilities. Concerning the rates applied to loans to individuals, they remained stable at 5.94% covering an increase of 9 bps to 4.83% for home loans and a decline of 7 bps to 7.18% for those for consumption. By institutional sector, credits to public enterprises increased by 27%, reflecting an increase of 51% in liquidity facilities and 5.3% in equipment loans.
As for credits to private companies, they have almost stabilized, including an increase in equipment loans of 6.9% and a decline in cash flow facilities of 8.6%.
Regarding loans intended for households, they increased by 2.1%, with an increase of 2% in those for housing and virtual stability in those for consumption.
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